Frank’s UIGEA Repeal is Ready to Roll

February 23, 2009

US Democrat Barney Frank

In an update to an ealier news item regarding Barney Frank’s plans to appeal the UIGEA ruling this morning’s edition of the eGaming Review snapshot revealed some further information regarding the Bill as well as its relase date which is now slated for as early as next month.

Barney Frank’s bill to repeal the UIGEA could be reintroduced as early as March, a congressional aide for the chair of the House of Representatives Financial Services Committee told Reuters.

Sources familiar with the EU’s formal investigation into whether Washington was singling out EU companies for enforcement actions while allowing US online firms to operate freely also told the news organisation they expect the report to recommend action at the World Trade Organization when it is released next month.

However, rather than move immediately to litigation, it’s thought EU officials will use the report as leverage to seek a negotiated solution with the US.

Barney Frank launches UIGEA roll back offensive

February 4, 2009

US Democrat Barney Frank

According to the eGaming Morning Snapshot of 4 February, US Democrat Barney Frank is launching an offensive to roll back legislation against online gambling passed under the Bush administration, reports the Financial Times.

The chairman of the House financial services committee will reintroduce a bill in the next few weeks to establish a licensing and regulatory framework for online gambling operators.

Frank said the prospects for his bill, discussed in the last session of Congress but not voted on, were greater than before because public opinion was now demanding the right to gamble online. Frank also said he expected UIGEA regulations making it illegal for financial institutions to process online gambling transactions, finalised during the final days of the Bush administration, to be among the measures Congress will look to rescind.

Barney Frank’s HR 6870 approved by a 30-19 vote

September 17, 2008

Online Poker Players have something to be happy about as the House Financial Services Committee wrapped up Tuesdays meetings. The meetings ended on a positive note as Barney Frank’s Payments Systems Protection Act, HR 6870, was approved by a 30-19 vote, this will open the doors for future discussions in the House of Representatives.

Barney Frank the Chairman of the committee has attempted to pass a similar bill and this was his second attempt to discontinue the regulations of the Unlawful Internet Gambling Enforcement Act HR 5767. Frank’s original Payments Systems Protection Act introduced in conjunction with Congressman Ron Paul. The original Payments Systems Protection Act was struck down by the Committee in June of 2008.

Barney Frank noted that the legality of internet gambling in the United States is still open to interpretation. Frank stated that whether betting on horse racing is legal depends on what department you ask. Barney Frank, he summed up his views by adding,

"How people spend their leisure time should not be made illegal or encouraged in a free society. If you’re going to [impose restrictions using the UIGEA], you’re hijacking the banking system. If this bill is passed, I would still like to repeal the law. Under this bill, at least the banks will know what is and isn’t illegal."

For online Poker players this brightens the future for the game they enjoy to play online. Most will agree poker is a game of strategy and luck, brining huge profits to the players who master the game. Whether you’re a beginner or seasoned pro today was a huge step forward which would allow you to enjoy the game of online poker.

HR 6870 being marked up by US House Committee on Financial Services today

September 16, 2008

The US House Committee on Financial Services will today mark up the latest bill introduced by Congressman Barney Frank to suspend regulations under the Unlawful Internet Gambling Enforcement Act 2006.

HR 6870, the ‘Payment Systems Protections Act of 2008′, would prohibit the US Treasury and Federal Reserve from proposing, prescribing or implementing any regulations under UIGEA apart from those relating to sports betting, until the meaning of key definitions such as ‘unlawful internet gambling’ had been clarified.

If the bill makes it past the Committee stage following mark-up, it could be submitted to a vote by the House of Representatives.

Its predecessor, HR 5767, fell at the committee stage in June after a vote among the 70 members ended in a 32-32 stalemate and several abstentions.